Topic: Justin Sun creates "the most decentralized Stablecoin" (Read 447 times)
Justin Sun is in the news again today but this time more captivating. Leon li the founder of huobi is stepping down for Justin after he sold 100% of his stake to him. Justin assume a advisory position on the top 10 exchange with an undisclosed deal that is valued close to $1 billion dollar. My own concern, id this. Justin had remain rich because of his holding in other project, not from his startup. So what are the chances he will thrive in this?
Do you think USDD will be more decentralized than existing decentralized stablecoins?
Does anyone really care about the stable coins being decentralized or you want transparency about the peg but the serious issue here is that after the launch it is struggling to maintain the 1:1 peg ratio and it is still below a dollar valuation even though more liquidity is add to its reserves. Will see how decentralized it can be and how long it will be able to maintain the valuation, after the UST debacle every stable currency will be under scrutiny. 
Less than 2 months have passed since the launch of the decentralized algorithmic USDD stablecoin, and it has already lost its binding to USD. For those who closely follow this topic, this fact is not surprising, but provided an opportunity to get a profit from the TRX short.
Wouldn't count on it. If you know about the Luna case then I think you know it was clearly an inside job, done by Do Kwon to scam people's money and pull an exit. TRX can also stop the peg rate if they feel they were under of same Luna-style attack which took Do Kwon long enough to pull the plug.Still, I continue to insist that the problem of these stablecoins lies precisely in the fact that they are all algorithmic, the cost of which is provided by the main coin of the corresponding blockchain. Look carefully at these stablecoins: DIE, USDN and USDD, they are not related to DoKwon in any way, but they have in common that they are algorithmic stablecoins and that they have lost their binding to USD.
Already after Luna and UST depreciated, a similar thing also with the algorithmic stablecoin DEI on the Fantom network, the value of which decreased against the dollar by 45%. Obviously, this type of stablecoin has a vulnerability that is exploited by scammers with large capital, and we can assume that the same fate awaits USDD and TRX, respectively.
Less than 2 months have passed since the launch of the decentralized algorithmic USDD stablecoin, and it has already lost its binding to USD. For those who closely follow this topic, this fact is not surprising, but provided an opportunity to get a profit from the TRX short.
Decentralized stable coin? Don't know if this one will really be successful considering on some aspects and factors then let's see if this one would push through.
Already after Luna and UST depreciated, a similar thing also with the algorithmic stablecoin DEI on the Fantom network, the value of which decreased against the dollar by 45%. Obviously, this type of stablecoin has a vulnerability that is exploited by scammers with large capital, and we can assume that the same fate awaits USDD and TRX, respectively.
Less than 2 months have passed since the launch of the decentralized algorithmic USDD stablecoin, and it has already lost its binding to USD. For those who closely follow this topic, this fact is not surprising, but provided an opportunity to get a profit from the TRX short.
Already after Luna and UST depreciated, a similar thing also with the algorithmic stablecoin DEI on the Fantom network, the value of which decreased against the dollar by 45%. Obviously, this type of stablecoin has a vulnerability that is exploited by scammers with large capital, and we can assume that the same fate awaits USDD and TRX, respectively.
Less than 2 months have passed since the launch of the decentralized algorithmic USDD stablecoin, and it has already lost its binding to USD. For those who closely follow this topic, this fact is not surprising, but provided an opportunity to get a profit from the TRX short.
30% per year is quite large, and it is bigger than UST. that's why I started doubting this, since yesterday's UST issue I had a bad view on algorithmic stablecoins. plus Justin Sun's poor track record in the crypto space. made me think twice about trusting USDD. it is possible that what happened to UST will be repeated to USDD.
20% of UST seemed very high, then we saw 30% per annum for USDD, but KuCoin surpassed everyone and announced a promotion of 60% per annum for 7 days for USDD stake holders: https://www.kucoin.com/news/en-usdd-high-profit-staking-enjoy-an-apr-of-60 In this case, the profit received in 7 days will be higher than what you will receive in 1 year in a traditional bank.In the crypto world, you could gain 20% per annum and that is not too much and could be sustainable. Pluskucoin is at a level where they have a ton of money and could do something that would be very profitable at the end.
Keeping Justin's personality aside, having a stablecoin from the tron blockchain will be great imo, I know many mostly use the trc20 of usdt more than the erc20 because of how cheap it is to withdraw, so having it's own stablecoin will be even better. I know many investors will be reluctant because of the recent terra ust incident, I think Justin has already learned from the ust failure and will do his absolute best to keep this stablecoin more secure. Am looking forward to having usdd in all major exchange.
Do you know where the profit comes from?
UST is printed when the Terra coin is burned. Therefore, in order to get more UST tokens, you need to burn more Terra coins.
You can buy UST, but then someone else will buy Terra and burn it. Now the most interesting thing: look at how many times the price of the terra coin has increased and what is the annual yield on staking the UST token. It was possible to make a 100% profit, but then it would look like a scam.
UST is printed when the Terra coin is burned. Therefore, in order to get more UST tokens, you need to burn more Terra coins.
You can buy UST, but then someone else will buy Terra and burn it. Now the most interesting thing: look at how many times the price of the terra coin has increased and what is the annual yield on staking the UST token. It was possible to make a 100% profit, but then it would look like a scam.
Then you should remember the opposite, that when selling UST, we automatically turned on the printing of the Luna coin. As we remember, a similar UST dump led to the issue of 7 trillion Luna coins in one night. Will the USDD collateral be sufficient to prevent a similar situation with TRX from happening again?
30% per year is quite large, and it is bigger than UST. that's why I started doubting this, since yesterday's UST issue I had a bad view on algorithmic stablecoins. plus Justin Sun's poor track record in the crypto space. made me think twice about trusting USDD. it is possible that what happened to UST will be repeated to USDD.
20% of UST seemed very high, then we saw 30% per annum for USDD, but KuCoin surpassed everyone and announced a promotion of 60% per annum for 7 days for USDD stake holders: https://www.kucoin.com/news/en-usdd-high-profit-staking-enjoy-an-apr-of-60 In this case, the profit received in 7 days will be higher than what you will receive in 1 year in a traditional bank.
UST is printed when the Terra coin is burned. Therefore, in order to get more UST tokens, you need to burn more Terra coins.
You can buy UST, but then someone else will buy Terra and burn it. Now the most interesting thing: look at how many times the price of the terra coin has increased and what is the annual yield on staking the UST token. It was possible to make a 100% profit, but then it would look like a scam.
Justin sun rumour was spread all over the market. Many rumours was spread all over the market,the important one among are the stable coin concept. Don’t trust until you get an official twitter from the Justin sun, many people scamming the crypto beginners with the fake coin. ..
Thus, 2 weeks have passed, and you still do not believe that a new decentralized algorithmic stablecoin USDD was launched on the Tron network? You just need to go to Justin Sun's Twitter page: https://twitter.com/justinsuntron to make sure of it. Almost all of his posts are now about USDD.
No big deal this is just another scam in the ocean. Everybody can come up with their version of a stable coin in the end. Nobody is stopping them. Soon coinmarketcap will be filled with stable coins rather than legit blockchain projects it is quite funny actually 
I am sure USDD will be backed real assets too. Is there a reason why would Justin lie to us? I am sure he would do his audits and show us USDD's books so there won't any suspicion about the assets backing USDD.
I am sure USDD will be backed real assets too. Is there a reason why would Justin lie to us? I am sure he would do his audits and show us USDD's books so there won't any suspicion about the assets backing USDD. 30% per year is quite large, and it is bigger than UST. that's why I started doubting this, since yesterday's UST issue I had a bad view on algorithmic stablecoins. plus Justin Sun's poor track record in the crypto space. made me think twice about trusting USDD. it is possible that what happened to UST will be repeated to USDD.
20% of UST seemed very high, then we saw 30% per annum for USDD, but KuCoin surpassed everyone and announced a promotion of 60% per annum for 7 days for USDD stake holders: https://www.kucoin.com/news/en-usdd-high-profit-staking-enjoy-an-apr-of-60 In this case, the profit received in 7 days will be higher than what you will receive in 1 year in a traditional bank.
I think he's trying to get people to short him. The protocol has pretty much the same mechanics as Luna / UST.
The only difference is Justin Sun has a LOT more money than Terra. They're small fish.
The problem is not how much money a project has. Matter is if your product concept is wrong that results in a broken financial model for your project. It in turn will be a deadly weakness of your project and at a right time, your project will be compromised to death because of that weakness.The only difference is Justin Sun has a LOT more money than Terra. They're small fish.
The technical concept for USDD from Justin Sun and TRON is the same as of UST and LUNA from Terra. From the bailout of Terra, I don't believe investors (institutional or retail) will mind to spend their capital into USDD, if it is built on as a similar algorithmic stable coin of $UST.
The founder of Tron, the well-known Justin Sun decided to launch a decentralized Stablecoin called Decentralized USD (USDD). The difference from all existing ones, according to Justin Sun, will be that USDD will be “the most decentralized stablecoin in human history.”
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
https://i.ibb.co/dQzZcSq/345344.gif
updated
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
https://i.ibb.co/dQzZcSq/345344.gif
updated
On May 5, a decentralized algorithmic USDD stablecoin was launched on the Tron network, which is also available in Ethereum and BNB Chain. In addition, USSD mining in these networks was also announced.
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
I think he's trying to get people to short him. The protocol has pretty much the same mechanics as Luna / UST.
The only difference is Justin Sun has a LOT more money than Terra. They're small fish.
Would i short the man who bought this art piece for 78M+?
https://news.artnet.com/app/news-upload/2021/11/FNY21-Macklowe-10788-Alberto-Giacometti-Le-Nez-copy.jpg
The founder of Tron, the well-known Justin Sun decided to launch a decentralized Stablecoin called Decentralized USD (USDD). The difference from all existing ones, according to Justin Sun, will be that USDD will be “the most decentralized stablecoin in human history.”
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
updated
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
updated
On May 5, a decentralized algorithmic USDD stablecoin was launched on the Tron network, which is also available in Ethereum and BNB Chain. In addition, USSD mining in these networks was also announced.
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
its weird to read word "stable" and "decentralized" in one sentence, Market is uncontrolable, it runs on opportunity of interests, anything is possible to happen, there is no guarantee for the price to stay still for a long time. "risk-free" is impossible in business.
this kind of promotion looks so forced that can lead to more distrust to crypto-currencies.
Justin sun rumour was spread all over the market. Many rumours was spread all over the market,the important one among are the stable coin concept. Don’t trust until you get an official twitter from the Justin sun, many people scamming the crypto beginners with the fake coin. I hope it won’t be one among them. Because we should prevent the fellow beginners from the shit coins.
I absolutely agree with you. I don't trust any of Justin's projects. However, Sun Token has increased its supply. Because of this, the price of the token has dropped a lot.
Justin Sun has a talent for copying and marketing anything. He knows very well what to do in this market. When I transfer from exchange to exchange, I use TRX and TRC-20 USDT. Because it provides cheap transfer. Other than that I wouldn't use TRX and his new project USDD.
Justin Sun has a talent for copying and marketing anything. He knows very well what to do in this market.
When I transfer from exchange to exchange, I use TRX and TRC-20 USDT. Because it provides cheap transfer. Other than that I wouldn't use TRX and his new project USDD. It is clear that TRC20 with USDT is definitely the way people use Tron most of the time. I understand that there is a big thing with whatever Justin does, but so far nothing that they have done managed to get that much attention, the only thing that they have done which got any attention so far is the TRC20 and the USDT in there. This is why I believe that there is a good chance that this could work as well. It would be basically USDD, instead of the USDT that people use, that way people will be able to move stablecoins from one place to another place instead of using USDT, then whenever they exchange it somewhere, they can then trade it to whatever they want.
remember what happened to Justin's so-called sun token from $45 to $0.01
I absolutely agree with you. I don't trust any of Justin's projects. However, Sun Token has increased its supply. Because of this, the price of the token has dropped a lot.
Justin Sun has a talent for copying and marketing anything. He knows very well what to do in this market. :) When I transfer from exchange to exchange, I use TRX and TRC-20 USDT. Because it provides cheap transfer. Other than that I wouldn't use TRX and his new project USDD. :)
The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
30% per year is quite large, and it is bigger than UST. that's why I started doubting this, since yesterday's UST issue I had a bad view on algorithmic stablecoins. plus Justin Sun's poor track record in the crypto space. made me think twice about trusting USDD. it is possible that what happened to UST will be repeated to USDD.
I hope the luna crash is the last ever this year, but somehow Justin sun made something that has failed the luna ecosystem??
to be honest it really scares me if in the next few days something similar will happen for Tron, which will definitely have a big impact on the market.
to be honest it really scares me if in the next few days something similar will happen for Tron, which will definitely have a big impact on the market.
Already after Luna and UST depreciated, a similar thing also with the algorithmic stablecoin DEI on the Fantom network, the value of which decreased against the dollar by 45%. Obviously, this type of stablecoin has a vulnerability that is exploited by scammers with large capital, and we can assume that the same fate awaits USDD and TRX, respectively.
Justin Sun on his Twitter page announced the mining of USDD with a yield of 30 to 70% per annum. This is more than 3 times higher than another algorithmic UST stablecoin recently offered. It is possible that USDD and TRX will repeat the dump that we saw on UST and Luna and, accordingly, it's time to open a short position on these coins.
I hope the luna crash is the last ever this year, but somehow Justin sun made something that has failed the luna ecosystem??
to be honest it really scares me if in the next few days something similar will happen for Tron, which will definitely have a big impact on the market.
Why have I just seen this now, lol? I didn't know that Justin Sun has created his stable coin in his network. Anyway, if it does its job, why not, right? Don't you agree that it's like that?
Justin Sun decided to support small investors who had UST on their accounts: https://twitter.com/justinsuntron/status/1526149180909289472 by allocating $10 million for this. But at the same time, Justin Sun decided to simultaneously advertise his USDD stablecoin, since compensation will be paid in this coin.
I do hope that everyone would somehow get compensated with it or something. I think it's a great way that he announced it. The problem was a stable coin so proposing an alternative is a good job for him. Lol.
Justin Sun decided to support small investors who had UST on their accounts: https://twitter.com/justinsuntron/status/1526149180909289472 by allocating $10 million for this. But at the same time, Justin Sun decided to simultaneously advertise his USDD stablecoin, since compensation will be paid in this coin.
Justin Sun on his Twitter page announced the mining of USDD with a yield of 30 to 70% per annum. This is more than 3 times higher than another algorithmic UST stablecoin recently offered. It is possible that USDD and TRX will repeat the dump that we saw on UST and Luna and, accordingly, it's time to open a short position on these coins.
On May 5, a decentralized algorithmic USDD stablecoin was launched on the Tron network, which is also available in Ethereum and BNB Chain. In addition, USSD mining in these networks was also announced.
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
The founder of Tron, the well-known Justin Sun decided to launch a decentralized Stablecoin called Decentralized USD (USDD). The difference from all existing ones, according to Justin Sun, will be that USDD will be “the most decentralized stablecoin in human history.”
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
The creator of a centralized blockchain wants to make a Decentralized Stablecoin? What blockchain will this decentralized coin run on? Is it in the Tron ecosystem? It's fun!In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
The Tron ecosystem is very popular due to low fees, but it is not decentralized.
I don't understand the technical aspects and I'm not an expert in law but I know that the moment he talks about stablecoins he's referring to a currency pegged to the US dollar in that sense how the hell can he talk about decentralized when everyone knows well that it's pegged to the US dollar...
Currently, the dollar acts as a measure of the value of the cryptocurrency, as well as in the real world. In this case, it would be logical for bitcoin, not the dollar, to act as such a measure of value in the cryptocurrency market. But this will become possible only when BTC ceases to be so volatile.
Do you think USDD will be more decentralized than existing decentralized stablecoins?
I don't understand the technical aspects and I'm not an expert in law but I know that the moment he talks about stablecoins he's referring to a currency pegged to the US dollar in that sense how the hell can he talk about decentralized when everyone knows well that it's pegged to the US dollar dollar he needs to have dollars in a bank and properly audited so people are trusting that the same value of online coins he has, he also has in the real world bank, i don't see how he can create something decentralized if the main functioning of stablecoins is this the one I mentioned?
Justin Sun needs to take the hint. People do not like him, I mean not hate him, but not like him, and nobody really cares about projects that he does. This dude had smart contracts and cheap transactions locked down years and years ago, and nobody cared, things like ADA, SOL, AVAX and the likes are barely getting there, and they somehow managed to get super high.
So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.
So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.
You're right, I don't love him, but I don't hate him either! But I do like Tron, it's good for gambling, at least from my perspective, I used it a lot... and I am still getting some as passive income! The price of Tron is the same as before, that's why some people don't like it, Tron didn't make a rise like some others, but I think it's holding pretty nice and stable in the past years! With a bit of patience, there's profit in trading with Tron! Again, from my perspective, I have it and I follow it!
But Justin is a controversial personality! I am not sure what he's up to now, but some of his projects are still around, and he probably have huge funds for some next projects!
Tron is a joke that only increased in price because the creator was every day on twitter giving good news for the price to go up that over time people realized this pump and dump scheme and today it no longer works
Justin Sun needs to take the hint. People do not like him, I mean not hate him, but not like him, and nobody really cares about projects that he does. This dude had smart contracts and cheap transactions locked down years and years ago, and nobody cared, things like ADA, SOL, AVAX and the likes are barely getting there, and they somehow managed to get super high.
So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.
So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.
You're right, I don't love him, but I don't hate him either! But I do like Tron, it's good for gambling, at least from my perspective, I used it a lot... and I am still getting some as passive income! The price of Tron is the same as before, that's why some people don't like it, Tron didn't make a rise like some others, but I think it's holding pretty nice and stable in the past years! With a bit of patience, there's profit in trading with Tron! Again, from my perspective, I have it and I follow it!
But Justin is a controversial personality! I am not sure what he's up to now, but some of his projects are still around, and he probably have huge funds for some next projects!
Justin Sun needs to take the hint. People do not like him, I mean not hate him, but not like him, and nobody really cares about projects that he does. This dude had smart contracts and cheap transactions locked down years and years ago, and nobody cared, things like ADA, SOL, AVAX and the likes are barely getting there, and they somehow managed to get super high.
So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.
So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.
It's a complete oxymoron.
Justin Sun is known for being "centralised" and being one of the biggest manipulators in the crypto space. Just look at what he did with Steem.
Also, stablecoins are by its very nature reliant on the value of USD to withhold value. There is nothing decentralised about the way that USD is issued, and I'm not sure why anyone would think that.
Justin Sun is known for being "centralised" and being one of the biggest manipulators in the crypto space. Just look at what he did with Steem.
Also, stablecoins are by its very nature reliant on the value of USD to withhold value. There is nothing decentralised about the way that USD is issued, and I'm not sure why anyone would think that.
I don't know about the USDD, but i believe in Trc20 chain. This chain has made life easier for cryptocurrency enthusiast. Low fees when transacting is what we look for while trading.
Tron supply is too centralized due to the majority of the coins is owned by Justin Sun and his company. The price of Tron is always objected with manipulation from Justin Sun whichever he wants to do. He also announced before that he is stepping down on Tron decision making yet he is now introducing new product of Tron which he leads. I don’t really what this guy think but surely this USDD is not decentralized because he will be the one who holds most of the supply.
oh Justin, you're off to bad start with this stableshitcoin when one of the main selling point of it is being "the most X/Y/Z thing in human history". Such a cheesy comment about something crypto related. Anyway, the 30% interest rate raises some red flags, imo it's too high, something doesn't add up, hell, it raises more red flags than seeing the name Justin Sun attached to this new coin which is already a lot of damn flags lol
That is a fact that the starting pitch is fishy as hell especially with the 30% interest rate and the claim of the most decentralized stablecoin. One of the article i saw claims that they start with $10 billion in crypto reserves but it is not clear which cryptocurrency will be used as reserve, if it is Bitcoin then i would say it is a good reserve but i do not trust any other coin as reserve.
I don't know about the USDD, but i believe in Trc20 chain. This chain has made life easier for cryptocurrency enthusiast. Low fees when transacting is what we look for while trading.
I don't know how decentralised this token will be, but apart from TRX I wouldn't put much trust in Justin. As said before, he has had failed projects and there is no telling what will happen with this one, especially when it comes to stablecoin. It is not quite clear where this token will be used and why it is needed when TRX has long and successful Tether TRC20.
(....)
Do you think USDD will be more decentralized than existing decentralized stablecoins?
(....)
Huge possiblity. Justin Tron could possibly make his mistakes from the past. As we all know, Justin Sun got a lot of issues, especially on Tron (TRX), but he already stepped down there.Do you think USDD will be more decentralized than existing decentralized stablecoins?
(....)
I am also hoping that this new stablecoin will be available to a lot of different chains, not only on the Tron network. Because that's what stablecoin become convenient to use for me.
Definitely he will have to follow what the stablecoin market has offered, make it available to other chains.
But you mentioned his TRX which for me look like a failure already.
@makishart - I don't think this will be < $1.00, it will solely defeat the purpose. Not sure though if this is going to be supported by traders, stablecoins has been saturated.
remember what happened to Justin's so-called sun token from $45 to $0.01
yeah and i remember that even with the token migration and it doesn't even give any change to the price as it's still having the worst performance and i have been reading the article and it seems like sun was trying to make its tron coin being used to back its what he was called as decentralized stable token. I doubt that if this will be truly decentralized and we do know that even when he was calling his tron blockchain truly decentralized but we can see what happened with oikos when the dev of oikos deny a partnership with tron foundation. I doubt with any platforms that in his hand. This may become only a short term bet for sure. So, there was possibility if this stable token will worth less than 1 dollar 
Doesn't matter if it's the most decentralized stablecoin, the concern is if it will run on fractional reserves, although as reported it has billions already.
And I guess Justin has lost his touch, his project didn't even move a lot during the bull run as compare to other altcoins. Maybe this is his way of making his name relevant again, but not sure if it will save him.
And I guess Justin has lost his touch, his project didn't even move a lot during the bull run as compare to other altcoins. Maybe this is his way of making his name relevant again, but not sure if it will save him.
(....)
Do you think USDD will be more decentralized than existing decentralized stablecoins?
(....)
Huge possiblity. Justin Tron could possibly make his mistakes from the past. As we all know, Justin Sun got a lot of issues, especially on Tron (TRX), but he already stepped down there.Do you think USDD will be more decentralized than existing decentralized stablecoins?
(....)
I am also hoping that this new stablecoin will be available to a lot of different chains, not only on the Tron network. Because that's what stablecoin become convenient to use for me.
I'm not really sure how many decentralized stablecoins are there. I know only about DAI. Though I haven’t used DAI for the last 1 or 2 years almost, I think DAI is working perfectly so far. So, I don't think Justin Sun is going to create something which would really be the best in the market but it would be fine to get one more from a guy from Justin Sun.
I had the same knowledge. I have been trying to look for more stablecoins with decentralized idea but it's only DAI that comes out. If this becomes successful then I will know two but I have my doubts when I see "USD" being used as part of the name. IMO, its healthy to have doubts first as it will make you question the quality of the project or whether they will follow what they are aiming for. More details.
Quote
USDD will be pegged to the underlying asset, TRX, and issued in a decentralized manner. When USDD’s price is lower than 1 USD, users and arbitrageurs can send 1 USDD to the system and receive 1 USD worth of TRX.
https://news.bitcoin.com/trons-justin-sun-reveals-decentralized-algorithmic-stablecoin-usdd/
I think this is good too. maybe he wants to follow in terra's footsteps with his UST. that's why he created his own stablecoin, but again I doubt it will be successful. every time justin creates a new project, nothing really works. like bittorrent, which infuriates investors. I think this stablecoin project will probably have the same fate as the previous projects held by Justin Sun.
I'm thinking about how stables are getting more attention right now. Before that, we also saw the arrival of Terra's UST. But for this case, I know how long he will keep the development going with an interest rate of 30%/year. It is indeed a very attractive rate, but there is still a bit of doubt about its applicability in the future. this market. After the above news, I also see that TRX is also increasing significantly in price. I didn't know this was a direction for their ecosystem.
remember what happened to Justin's so-called sun token from $45 to $0.01
I've known Justin Sun for one thing, he controls things in a centralized way than a decentralized way, I hope he won't end up fu**king this one up again, just like Tron trc20, I dont have to go into details here, many know what I am talking about.
Did you still expect it to be fully decentralized unlike the TRON blockchain that is under his control? i won't believe with what he has said above. Don't you see that even tornado cash who have been called by the most privacy protocol can also be controlled by its creator? the same thing will be also applied into the USDD and i do believe justin will have control over it again. He was only trying to build FOMO to make his stable token become famous like another stable token. I will never believe if stable token will become truly decentralized. It must be worked like bitcoin to make it happen.
The NEAR protocol is already working hard to implement its own USN algorithmic stablecoin. Obviously, this is a promising niche and every known protocol or blockchain will want to take its place in it. I have already mentioned it many times in this section and it seems to me a promising direction, considering how much the stablecoin market is developing. Of course this type of token has its vulnerabilities. Yes, they are decentralized, but they are smart contracts and they are prone to frequent hacks, just think of Solana's algorithmic stablecoin, CASHIO, which lost all liquidity due to an exploit in the smart counter.
I think this is the main obstacle for algorithmic stablecoins to displace centralized stablecoins such as USDT and USDC from their pedestals.
I think this is the main obstacle for algorithmic stablecoins to displace centralized stablecoins such as USDT and USDC from their pedestals.
You can't get the drama until the coin is running with a long time.
IMO, about these kinds of FIAT currency. The backup asset sometimes still needs to be questioned, because most of them are not really 100% backup and that really scared all people. Just let's see how is this going.
I'm not sure, the coin will have no drama. Since there always have some drama for stablecoin fiat.
IMO, about these kinds of FIAT currency. The backup asset sometimes still needs to be questioned, because most of them are not really 100% backup and that really scared all people. Just let's see how is this going.
I'm not sure, the coin will have no drama. Since there always have some drama for stablecoin fiat.
Everyone has known this man for a long time, and there is no special trust in his public "hype" statements, I would not be so vocal in his place, I would have launched the product first, and then bragged. On the other hand, it would not be bad to have a decentralized stablecoin that would inspire confidence in many traders.
oh Justin, you're off to bad start with this stableshitcoin when one of the main selling point of it is being "the most X/Y/Z thing in human history". Such a cheesy comment about something crypto related. Anyway, the 30% interest rate raises some red flags, imo it's too high, something doesn't add up, hell, it raises more red flags than seeing the name Justin Sun attached to this new coin which is already a lot of damn flags lol
I've known Justin Sun for one thing, he controls things in a centralized way than a decentralized way, I hope he won't end up fu**king this one up again, just like Tron trc20, I dont have to go into details here, many know what I am talking about.
There are lot of drama about Justin Sun but it does not prevent people to use TRON for their transactions. When transaction fee on ERC 20 chain is high and before the launch of Binance Smart Chain, USDT on TRC20 was a most favorite option for many people.After Binance launched Binance Smart Chain, they tried to force Binance users to use BSC rather than TRC20 chain by increasing withdrawal fee on TRC20. However, when both ERC20 and BSC cause high transaction fee, TRC20 chain again becomes a good alternative for people.
I think justin sun's idea is very interesting which will build a decentralized stablecoin.
where we know that stablecoins are coins that have the most stable prices compared to other coins.
I think that's what Justin took advantage of by building a special decentralized stablecoin because it has a small risk compared to other types of coins.
I think if this project is successful then usdd will be more decentralized than stablecoins because they will be centralized and have their own place.
I hope he has learnt a lesson after all, this stable coin going decentralized looks promising but it still depends on how he Justin Sun handle this Stable Coin this time around, we have a few new stable coins that people aren't even into, only UST did very well. where we know that stablecoins are coins that have the most stable prices compared to other coins.
I think that's what Justin took advantage of by building a special decentralized stablecoin because it has a small risk compared to other types of coins.
I think if this project is successful then usdd will be more decentralized than stablecoins because they will be centralized and have their own place.
I think justin sun's idea is very interesting which will build a decentralized stablecoin.
where we know that stablecoins are coins that have the most stable prices compared to other coins.
I think that's what Justin took advantage of by building a special decentralized stablecoin because it has a small risk compared to other types of coins.
I think if this project is successful then usdd will be more decentralized than stablecoins because they will be centralized and have their own place.
where we know that stablecoins are coins that have the most stable prices compared to other coins.
I think that's what Justin took advantage of by building a special decentralized stablecoin because it has a small risk compared to other types of coins.
I think if this project is successful then usdd will be more decentralized than stablecoins because they will be centralized and have their own place.
legendary
Activity: 2156
Merit: 2100
Marketing Campaign Manager |Telegram ID- @LT_Mouse
I'm not really sure how many decentralized stablecoins are there. I know only about DAI. Though I haven’t used DAI for the last 1 or 2 years almost, I think DAI is working perfectly so far. So, I don't think Justin Sun is going to create something which would really be the best in the market but it would be fine to get one more from a guy from Justin Sun.
However, when both ERC20 and BSC cause high transaction fee, TRC20 chain again becomes a good alternative for people.
I think BSC fee is the lowest and was never higher than ERC20 and TRC20. I remember I had paid more than $1 on TRC20 transaction few months back. I've known Justin Sun for one thing, he controls things in a centralized way than a decentralized way, I hope he won't end up fu**king this one up again, just like Tron trc20, I dont have to go into details here, many know what I am talking about.
There are lot of drama about Justin Sun but it does not prevent people to use TRON for their transactions. When transaction fee on ERC 20 chain is high and before the launch of Binance Smart Chain, USDT on TRC20 was a most favorite option for many people.After Binance launched Binance Smart Chain, they tried to force Binance users to use BSC rather than TRC20 chain by increasing withdrawal fee on TRC20. However, when both ERC20 and BSC cause high transaction fee, TRC20 chain again becomes a good alternative for people.
I've known Justin Sun for one thing, he controls things in a centralized way than a decentralized way, I hope he won't end up fu**king this one up again, just like Tron trc20, I dont have to go into details here, many know what I am talking about.
The founder of Tron, the well-known Justin Sun decided to launch a decentralized Stablecoin called Decentralized USD (USDD). The difference from all existing ones, according to Justin Sun, will be that USDD will be “the most decentralized stablecoin in human history.”
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
updated
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".
Do you think USDD will be more decentralized than existing decentralized stablecoins?
updated
On May 5, a decentralized algorithmic USDD stablecoin was launched on the Tron network, which is also available in Ethereum and BNB Chain. In addition, USSD mining in these networks was also announced.
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089
Jump to: